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Released: May 02, 2013
Fannie, Freddie nominee signals government role for mortgages
Source: Zachary Goldfarb, Washington Post (Free Registration)
President Obama nominated a long-term Democratic lawmaker on Wednesday to run the obscure but powerful agency that oversees Fannie Mae and Freddie Mac, signaling the administration’s desire to preserve a substantial role for the government in the future of the housing market, people close to the White House said.
The nomination of Rep. Mel Watt (N.C.), a member of the House Financial Services Committee who is popular with liberal groups, to head the Federal Housing Finance Agency suggests that the administration would like to speed up the slow-going effort to determine the future of the taxpayer-backed mortgage giants.
Read Full Article: Fannie, Freddie nominee signals government role for mortgages
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